quality inn - airport boise · 2526 w. airport way boise, idaho 83705 quality inn - airport boise...
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2 5 2 6 W. A I R P O R T W AY
B O I S E , I D A H O 8 3 7 0 5
QUALITY INN - AIRPORT BOISE 61 ROOM HOTEL
C O N F I D E N T I A L O F F E R I N G M E M O R A N D U M
N A I S E L E C T | Q U A L I T Y I N N A I R P O R T B O I S E | 2
Confidentiality AgreementThis is a Confidential Offering Memorandum intended solely for your own limited use and benefit in considering whether you desire to express any further interest in participating
in the acquisition of the Quality Inn, 2526 W. Airport Way, Boise, ID 83705 (the “Property”). The Owner has retained NAI Select (“NAI”) as the exclusive sales broker to sell the
Property. No other agent or broker is authorized to offer the Property unless and until that agent or broker has executed a written agreement with NAI and that agreement has
been executed by their interested purchaser.
This confidential memorandum contains brief, selected information pertaining to the business and affairs of the Property and has been prepared by NAI. Although this confidential
memorandum has been reviewed by representatives of the Owner, it does not purport to be all-inclusive or to contain all of the information which a prospective purchaser
may desire. Neither the Owner nor NAI, nor any of their partners, officers, employees or agents have independently verified the information contained herein and they are not
responsible for any errors or inaccuracies in the information. No representation or warranty, express or implied, is made as to the accuracy or completeness of this confidential
memorandum or any of its contents, or any other written or oral communication transmitted to a prospective purchaser in the course of its evaluation of the proposed sale of the
Property. There is no representation as to the environmental condition of the Property.
You agree that the memorandum and its contents are confidential, that you will hold and treat it in confidence and that you will not disclose this memorandum or its contents to
any other firm or entity without prior written authorization. Photocopying or other duplication is prohibited. You will use this confidential memorandum only for the purpose of
evaluating the possible acquisition of the Property. All prospective purchasers agree that they will conduct their own independent investigation of those matters which they deem
appropriate in order to evaluate this offering.
Owner and NAI expressly reserve the right at their sole discretion to reject any or all proposals, offers, or expressions of interest in the Property and to terminate discussions with
any party at any time with or without notice.
This confidential memorandum shall not be deemed a representation of the state of affairs of the Property or imply that there has been no change in the business or affairs of the
Property since the date of preparation of this memorandum. The Property is submitted for sale subject to the right to make changes in any of the terms without notice.
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No warranty, express or implied, is made as to the accuracy of the information contained herein. This information is submitted subject to errors, omis-sions, change of price, rental or other conditions, withdrawal without notice, and is subject to any special listing conditions imposed by our principals. Cooperating brokers, buyers, tenants and other parties who receive this document should not rely on it, but should use it as a starting point of analysis, and should independently confirm the accuracy of the information contained herein through a due diligence review of the books, records, files and documents that constitute reliable sources of the information described herein.
2526 W. AIRPORT WAYB O I S E , I D 8 3 7 0 5
TABLE OF CONTENTS
4 SEC TION 1 Property Information
7 SEC TION 2 Location Information
9 SEC TION 3 Financial Analysis
11 SEC TION 4 Demographics
Anmoll RattannCommercial Real Estate Advisor714.507.8826 cell | [email protected]
Mike ErkmannPrincipal208.229.2020 | [email protected]
NAI Select
5531 N. Glenwood St.Boise, ID 83714www.naiselect.com208.229.2020
Exclusive Contacts:
Property DescriptionNAI Select is pleased to offer exclusively for sale the free simple interest sale of 61-room Quality Inn Boise Airport. This mid-scale, limited service hotel is located within walking distance to the Boise International Airport. This interior corridor property features single and double rooms, 1 family suite and a corporate suite. Amenities include a welcoming lobby with breakfast/coffee area, indoor swimming pool with whirlpool/jacuzzi, fitness center and guest laundry. Room amenties includes flat screen tv, wood furniture, direct dial phone, complimentary Wi-Fi and handicap accessible rooms.
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Financial Summary
Price $4,700,000
Rooms 61
Price Per Room $77,049.18
Cap Rate 8.27%
Occupancy 58.2%
ADR $75.42
RevPAR $43.27
Net Operating Income $388,762
Property DetailsName Quality Inn Boise Airport
Address 2526 W. Airport Way
City, State Zip Boise, ID 83705
Rooms 61
Year Built/Renovated 1987
Building SF 26,993 SF
Lot SF 1.13 Acres
# of Stories 2
Corridor Interior
Parking 57 Surface Spaces
Parcels S1027233812
Zoning G-C (General Commercial)
Labor Non-Union
Room Amenities• Flat Screen TV
• Microwave
• Refrigerator
• Hair Dryer
• In-Room Climate Control
• Free Wi-Fi
• Shower/Tub
Property Amenities• 24-Hour Fitness Facility
• Heated Indoor Pool/Whirlpool
• Free Self-Parking
• Complimentary Breakfast
• Business Center
• Elevator
• Ice Machines
• Guest Laundry
• Air Filtration
• Airport Transportation
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Room BreakdownKing Rooms King Standard 2 King Handicap Accessible Standard 9 King plus Single 3 King plus 2 Queen 1
Queen Rooms Queen Standard 17 Queen Double 27 Queen Double plus Single 2
Total Rooms 61
Photos
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Location Maps
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Parcel Plan
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Retailer Map
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Competitive Set Occupancy, ADR & RevPAR
DECEMBER 2017
Occupancy (%) ADR RevPARMy Prop Comp Set Index (MPI) My Prop Comp Set Index (ARI) My Prop Comp Set Index (RGI)
Current Month 46.3 52.2 88.8 64.12 88.8 72.2 29.70 46.35 64.1
Year To Date 72.3 72.9 99.2 74.7 103.92 71.9 54.04 75.78 71.3
Running 3 Month 59.6 63.5 93.9 68.83 96.41 71.4 41.04 61.18 67.1
Running 12 Month 72.3 72.9 99.2 74.7 103.92 71.9 54.04 75.78 71.3
JUNE 2018
Occupancy (%) ADR RevPARMy Prop Comp Set Index (MPI) My Prop Comp Set Index (ARI) My Prop Comp Set Index (RGI)
Current Month 63.7 90.8 70.2 82.54 82.61 99.9 52.6 74.99 70.1
Year To Date 58.6 70.7 82.8 76.94 77.02 99.9 45.05 54.45 82.7
Running 3 Month 65.9 85.6 76.9 82.01 80.40 102.0 54.02 68.84 78.5
Running 12 Month 62.5 66.1 94.5 76.31 78.15 97.6 47.70 51.67 92.3
Name City Rooms
Quality Inn Airport Boise Boise 61
Best Western Airport Inn Boise 50
Best Western Vista Inn at the Airport Boise 85
La Quinta Inns & Suites Boise Airport Boise 60
Super 8 Boise Boise 106
Red Lion Inn & Suites Boise Airport Boise 125
Total 487
Income & Expenses
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2018 Hotel Statistics
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Revenue Rooms $949,431.00 Other Income $18,060.00Total Revenue $967,491.00
Performance StatisticsOcc% of Total Available Rooms 58.20%Occ% of Total Rooms 57.36%STR (STAR) Occ% of Total Rooms 56.86%ADR Stay Over Rooms 75.42ADR for Total Rev Rooms 74.99STR (STAR) ADR for Total Rev Rooms 74.99ADR for Total Occupied Rooms 74.34RevPar 43.27STR (STAR) RevPar 42.64
2018
Boise Metro
A D A C O U N T Y , I D A H O
S U M M A R Y
Vibrant and eclectic. Approachable and comfortable. Descriptors that may seem at odds, but are brought to life in a diversity of ways across the communities that make up the Boise Metro. Every person defines and prioritizes quality of life differently - family, education, outdoors, culture, that elusive ‘balance’. The Boise Metro hits every mark in its own unique way. Once a flyover state, the Boise Metro has grown to be a breath of fresh, Pacific Northwest air. The region is nestled in the southwestern corner of Idaho, surrounded by stunning foothills and pristine mountains with rushing a river flowing right down the middle.
Backed by mountains, blessed with over 200 days of sunny weather, the Boise Metro is earning national acclaim like no other mid-sized city in America. Our incredible quality of life has attracted a thriving mix of high tech, agribusiness and manufacturing businesses along with a young, educated workforce to support them.
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Demographics & Tourism
Demographics
710,000P O P U L A T I O N
A R T S & H I S T O R Y
Ghost/Mining TownsMuseums
Native American Culture
$55,162M E D I A N H H I N C O M E
Rank Employer Employees
1 St Luke’s Regional Med Ctr 8,8632 Micron Technology 6,5003 St Alphonsus Health Systems 4,8344 Walmart 3,9675 Albertsons 3,1086 HP 1,9347 Simplot 1,9118 Fred Meyer 1,8529 Idaho Power 1,68810 Wells Fargo 1,667
Private Sector Employers
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2018 1 Mile 3 Miles 5 Miles
Total Population 6,151 231,842 607,114
Total Households 2,681 69,034 186,505
Avg. Household Size 2.29 3.3 3.2
Avg. Household Income $57,742 $95,461 $97,070
Source: Boise Valley Economic Partnership, 2018
Idaho draws—and awes—hundreds of thousands of visitors each year. Tourism is a $3.4 billion industry in Idaho and these are a few reasons why.
With world-class golf courses, hiking, fishing, and mountain biking, the recreation opportunities are virtually unlimited within a 30-minute drive of Boise Metro.
• Idaho has the most whitewater in the lower 48 states.• Boise Foothills have more than 200 miles of acclaimed hiking and mountain
biking trails.• Bogus Basin Mountain Resort is 16 miles north of Downtown Boise with
2,600 acres of skiable terrain.• Nearly 2,000 acres of parks• 25-miles of greenbelt paths along the Boise River through 850 acres of parks• A new Boise River Park with two state-of-the-art waveshapers.• Kayaking, whitewater rafting, fly fishing and other water activities can be
found throughout the Boise Valley and across the state on the Boise, Payette, Snake, and Salmon River systems.
• World-famous Sun Valley ski resort is only a three-hour ride to the northeast.
Tourism
A C T I O N S P O R T S
AT V Recreation/MotorsportsBallooning
Horseback RidingZip Lining
F I S H & W I L D L I F E
Fishing/HuntingWildlife Viewing/Birding
L E I S U R E A C T I V I T I E S
CasinosGolfing
Guest RanchesRoadside Attractions
Sleigh Rides
N AT U R A L AT T R A C T I O N S
Hot SpringsNational Monuments &
Historical SitesNatural Attractions
O U T D O O R S P O R T S
Mountain BikingCamping
Hiking/Backpacking
F O O D & D R I N K
BreweriesDistilleries
Farmers MarketsWineries/Wine Tours
W A T E R S P O R T S
Jet BoatingLake/River Cruises
Whitewater RaftingKayaking
W I N T E R S P O R T S
Skiing/SnowboardingCat Skiing & Heli Skiing
Ice SkatingNordic Skiing/Snowshoeing
Snowmobiling
31%B A C H E L O R S D E G R E E
No warranty, express or implied, is made as to the accuracy of the information contained herein. This information is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and is subject to any special listing conditions imposed by our principals. Cooperating brokers, buyers, tenants and other parties who receive this document should not rely on it, but should use it as a starting point of analysis, and should independently confirm the accuracy of the information contained herein through a due diligence review of the books, records, files and documents that constitute reliable sources of the information described herein.
2526 W. AIRPORT WAYBOISE, IDAHO 83705
Mike Erkmann Principal
208.229.2020 | 208.629.6003 [email protected]
Exclusive Contacts:
Anmol Rattan Consultant/Agent
208.229.2020 | 714.507-8826 [email protected]